ICPSK launches new corporate governance award

By Jackson Okoth

The Institute of Public Secretaries of Kenya (ICPSK) has begun receiving entries from firms interested in participating it first ever Champion of Governance (CoG) award scheme.

"An estimated 47 organisations have declared interest in this competition whose main focus is governance," said Joshua Wambua, secretary and CEO, ICPSK.

He spoke on Sunday at a training session for CoG consultants, held at the institute’s offices in Upper Hill, Nairobi.

This award is meant to recognise those organisations and institutions that exhibit the highest standards of practice of good corporate governance.

"We have developed the self-assessment tools to the competitors and is working on the best approach to be used," said Irene Mumo, a CoG consultant.

Institutions that have partnered with ICPSK on this award include Association of Professional Societies in East Africa, Central Bank of Kenya, Central Depository and Settlement Corporation.

Other players

Others include Companies registry, Insurance Regulatory Authority and Kenya Private Sector Alliance.

The Kenya Accountants and Secretaries National Examinations Board, Ministries of Co-operative Development and Marketing, Finance, Local Government as well as Registration of Certified Public Secretaries Board and Retirement Benefits Authority are in the running.

"How organisations are governed will change once this award gets off the ground," said Mumo.

"It is time corporate governance issues were isolated and tackled on their own. That is why we have come up with this award," said Wambua.